Archive for Tag: Newsletter

Overview of Goods and Services Tax (GST) Q 1. What is Goods and Service Tax (GST)? Ans. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes...

The National Company Law Tribunal and the National Company Law Appellate Tribunal ConstitutedThe constitution of the National Company Law Tribunal and the National Company Law Appellate Tribunal is a paradigm shift with the intention of establishing a specialized forum to adjudicate all disputes/issues pertaining to companies in India. The...

of Relevant experience, Should be well versed with QuickBooks, Peachtree, SAP R 3 and Tax Software like Ultra Tax and ATX, Should be able to handle offshore team and coordinate the with the Cliental and ensure the work is done and Service Levels are met

Looking for dynamic Candidates with Accounting and Reporting exposure for Four to Six years of Relevant experience, Should be well versed with various accounting Application Should be able to handle offshore team and coordinate the with the Cliental and ensure the work is done and Service Levels are met.

Government has received a number of representations seeking clarifications on capitalization of costs in cases of Competitive Bid power projects. The clarifications sought were with regard to capitalization of borrowing costs incurred during extended delay in commercial production for reasons beyond the developer’s control, and whether capitalization of power...

Shri A. Younuskunju (ITAT) ITAT observation Even if he has granted the above interest wrongly, that will not entitle the Assessing officer to form a ground and agitate by means of rectification proceedings u/s. 154 of the Act, unless it can be said that there is a blatant and...

Burden of proof – Deduction of tax at source by contractee on basis of job works – Amount purported towards tax was deducted by a deductee which has been found by the Assessing Officer in the assessment proceeding as not payable by the assessee. Once this finding has been...

M/s. ATW Technologies Pvt Limited Bangalore ITAT held, Non compete fees payable to director is capital expenditure not revenue expenditure, not allowable in the hand of the firm/ company. ITAT observation This agreement was executed on 1.4.2001. The company was incorporated on 16.03.2001. He had already undertaken a similar...

Regulation 6 of Notification No. FEMA.3/2000-RB dated May 03, 2000 in terms of which persons resident in India may raise foreign currency loans from non-residents in accordance with the provisions contained in this Notification. Their attention is also invited to paragraph 2(ii)(a) ofAP (DIR Series) Circular No. 27 dated September 23,...

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